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WRAP

Wrap Technologies, Inc.

WRAP

Wrap Technologies, Inc. • NASDAQ
$2.16 ▼ -2.26% (-0.05)
Market Cap $111.07 M
52w High $3.00
52w Low $1.20
Dividend Yield 0%
P/E -6.75
Volume 56.24K
Outstanding Shares 51.42M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.491M ▲ $3.644M ▲ $-2.773M ▲ -185.983% ▲ $-0.058 ▲ $-2.773M ▼
Q2-2025 $1.012M ▲ $3.343M ▼ $-3.727M ▼ -368.281% ▼ $-0.077 ▼ $-2.707M ▲
Q1-2025 $765K ▼ $4.517M ▼ $109K ▲ 14.248% ▲ $-0.001 ▲ $-3.767M ▲
Q4-2024 $865K ▲ $5.043M ▲ $-7.597M ▼ -878.266% ▼ $-0.17 ▼ $-7.416M ▼
Q3-2024 $593K $3.861M $1.99M 335.582% $0.036 $-3.431M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.965M ▲ $18.237M ▲ $4.111M ▲ $14.126M ▲
Q2-2025 $4.177M ▼ $15.612M ▼ $3.851M ▼ $11.761M ▲
Q1-2025 $6.17M ▲ $17.972M ▲ $15.405M ▲ $2.567M ▲
Q4-2024 $3.61M ▼ $15.121M ▼ $14.871M ▲ $250K ▼
Q3-2024 $4.867M $18.785M $12.379M $6.406M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.773M ▲ $-2.91M ▼ $-96K ▼ $4.794M ▲ $1.788M ▲ $-2.995M ▼
Q2-2025 $-3.727M ▼ $-1.94M ▲ $-53K ▲ $0 ▼ $-1.993M ▼ $-2.047M ▲
Q1-2025 $109K ▲ $-3.069M ▼ $-100K ▼ $5.729M ▲ $2.56M ▲ $-3.115M ▼
Q4-2024 $-7.597M ▼ $-1.206M ▼ $-51K ▼ $0 $-1.257M ▼ $-1.237M ▼
Q3-2024 $1.99M $330K $2.473M $0 $2.803M $303K

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q3-2025
Asset Management
Asset Management
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Technology Service
Technology Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Customer Deposits
Customer Deposits
 $0 ▲$0 ▲$0 ▲$0 ▲
Deferred Revenue
Deferred Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Wrap looks like a very early‑stage company that is still in the investment and build‑out phase. Revenue over the past several years has remained very small and has not yet shown a clear growth trajectory. The company runs with recurring operating and net losses each year, which is typical for a young technology firm still proving out demand but means it has not yet reached commercial scale or profitability. In practical terms, the business is spending more on payroll, product, and overhead than it brings in from customers, and this pattern has persisted for multiple years.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small asset base and a modest cash position that has trended down over time. On the positive side, the company carries no financial debt, which removes pressure from interest payments and scheduled repayments. However, equity has also been shrinking, reflecting continued losses eating into the capital base. Overall, the company has limited financial cushion, which heightens sensitivity to any delays in customer adoption or funding.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, meaning the core business is consuming cash rather than generating it. Free cash flow is also negative, but the company is not engaging in heavy capital spending, so the main drain is ongoing operating costs rather than big one‑off investments. This pattern suggests the company depends on outside capital or future revenue growth to sustain operations, and timing around new contracts or financings becomes especially important given the relatively small cash reserves.

Competitive Edge

Competitive Edge Wrap’s competitive position is built on a very differentiated idea: non‑lethal, “no‑pain” restraint and de‑escalation tools for law enforcement and security. The BolaWrap device, combined with VR training, digital training content, and body‑worn video, creates an integrated ecosystem rather than a single gadget. Strong patent protection and the “pre‑escalation” positioning give it a clear identity distinct from traditional tools like Tasers, batons, or pepper spray. Manufacturing and data handling rooted in North America also line up well with government security preferences. The main competitive challenges are its small scale, the dominance of large incumbents in law‑enforcement technology, lengthy government procurement cycles, and the need to change entrenched training and use‑of‑force practices before broad adoption follows.

Innovation and R&D

Innovation and R&D Innovation is the clear centerpiece of Wrap’s story. It has already developed a novel restraint device (BolaWrap), immersive VR training (WRAP Reality), digital training platforms, and body‑worn video and evidence management (WrapVision). More recently, it is trying to extend its core tethering concepts into counter‑drone and defense applications, with handheld anti‑drone tools and drone‑mounted interception systems. This represents a meaningful broadening of its addressable markets. At the same time, these are ambitious, long‑cycle projects that face technical, regulatory, and procurement risks. Success depends not just on the technology working, but on validation, field results, and eventual integration into law‑enforcement and defense workflows, which can take years.

Summary

Overall, Wrap looks like a very small, highly specialized technology company with promising, differentiated products but very early‑stage financials. The business model today is investment‑heavy: recurring losses, modest and flat revenue, a thin balance sheet, and ongoing cash burn without the offset of meaningful operating cash inflows. On the other side of the ledger are a clear mission around non‑lethal public safety, strong patent protection, and a growing ecosystem that now reaches into counter‑drone and federal defense markets. The key uncertainties center on whether the company can convert technical and conceptual advantages into broad, repeatable contracts fast enough to support its financial position, and how it navigates the long, conservative procurement processes of law‑enforcement and defense customers.

NEWS

November 24, 2025 · 8:20 AM UTC

Texas Border Agency Selects New Non-Lethal Response Subscription to Strengthen Officer and Community Safety

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November 14, 2025 · 7:45 AM UTC

Wrap and K-Form Strengthen Made in America Supply Chain for Wrap's Non-Lethal Response and CUAS Manufacturing

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November 12, 2025 · 4:05 PM UTC

Wrap Reports $2M Gross Revenue in Q3 With Non-Lethal Response Launch

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November 7, 2025 · 9:00 AM UTC

Wrap and LETAC Lead Policy Development for Human Centered Non-Lethal Integration of Humanoid Robotics in Public Safety

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November 6, 2025 · 9:00 AM UTC

Wrap and LETAC USA Announce Innovative Partnership to Help Define Global Standards for Non-Lethal Machine-to-Man Policy and Tactics

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